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Aside from the number of employees, the________also uses afinancialceiling todefine aSME. a.the OECD b. the Small...

Aside from the number of employees, the________also uses afinancialceiling todefine aSME.

a.the OECD

b. the Small Business Council

c. the European Union

d. the World Trade Organisation
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Answer #1

Answer:- Option (c): the European Union

Explanation:- In the European Union, a new definition came into force on 1 January 2005 and the new definition provides for the financial ceilings: the turnover of medium-sized enterprises (50-249 employees) should not exceed EUR 50 million; that of small enterprises (10-49 employees) should not exceed EUR 10 million while that of micro firms (less than 10 employees) should not exceed EUR 2 million. So, aside from the number of employees, the European Union also uses a financial ceiling to define a SME.

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